"Red Sea Attacks Disrupt EV Production at Tesla and Volvo Plants"

Volvo has halted its electric vehicle production in Europe due to the threat of violence from Iran-backed Houthi fighters attacking commercial ships in the Red Sea, following Tesla's similar move. The blockade at the Bab al-Mandeb strait has led to increased attacks on commercial vessels, prompting companies to reroute or halt shipping altogether. Volvo's Ghent factory in Belgium will stop production for three days due to delayed deliveries of gearboxes, impacting the production of its fully electric XC40 and C40 models. The disruption is not expected to significantly impact Volvo's production targets, but tensions are escalating with US and UK airstrikes on Houthi targets in Yemen.